CarMax Tells Investors Why Sales Volumes Spiked
Investors reacted to CarMax's (NYSE: KMX) recent earnings report by sending shares 6% lower. The used car retailer announced plenty of good news, though, including a double-digit spike in unit sales as industry selling conditions improved. That success was paired with mixed financial results, as spiking expense spending reduced pre-tax earnings.
In a conference call with Wall Street analysts on Dec. 20, CEO Bill Nash and his team broke down the third-quarter numbers while discussing their outlook for the rest of the year. Below are a few highlights from that presentation.
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Source Fool.com
